Business Intelligence on Retailing, Franchising, and Consumerism in China

Hong Kong Retail Sales Up 10.4% In August

According to the Hong Kong Census and Statistics Department, the total retail sales in Hong Kong increased by 10.4% to HKD22.8 billion in August and the total retail sales value and the total retail sales volume in the first eight months of 2008 increased by 15% and 8.3% respectively.

A spokesperson from the Hong Kong government said that the recent global financial turmoil will affect the local Hong Kong asset market and this will lead to effects on consumer sentiment and the local economy. The government will monitor the situation closely.

Statistics released by the Census and Statistics Department showed that electrical goods and photographic equipment had the greatest growth in sales volume in August, increasing 21.6 percentage points compared with the same period last year, followed by furniture and fixtures with increase rate of 14.7%, fuels with 7.8%, apparel with 5.2%, food, alcohol and tobacco with 3.5%, and commodities in department stores with 3.3%.

At the same time, the sales volume of motor vehicles and parts decreased by 14.8% and that of footwear, allied products and other clothing accessories decreased by 4.1% while that of miscellaneous consumer durable goods decreased by 0.9%.

Be the first to comment on "Hong Kong Retail Sales Up 10.4% In August"

Leave a comment

Your email address will not be published.


  Other China News

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco